document.write( "Question 1205115: Mia invests $2,000 in a money market account that earns 5% annual interest, compounded continuously. Approximately how many years will it take her money to grow to the $4,500 she needs for her small business start-up? (Round your answer to one decimal place.)
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Algebra.Com's Answer #841752 by MathLover1(20849)\"\" \"About 
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\n" ); document.write( "This formula says, when an amount\"+P\" is invested for the time '\"t\"' with the interest rate is \"r\"% compounded continuously, then the final amount is, \r
\n" ); document.write( "\n" ); document.write( "\"A+=+P+%2Ae%5E%28rt%29\"\r
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\n" ); document.write( "\n" ); document.write( "The initial amount is \"P+=+2000\".
\n" ); document.write( "The interest rate is, \"r+=+5\"% = \"5%2F100+=+0.05\"
\n" ); document.write( "The amount after \"t+\"years =\"4500\"
\n" ); document.write( "Time is, \"t\"=?\r
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\n" ); document.write( "\n" ); document.write( "\"4500+=+2000%2A+e%5E%280.05t%29\"\r
\n" ); document.write( "\n" ); document.write( "\"4500%2F2000=e%5E%280.05t%29\"\r
\n" ); document.write( "\n" ); document.write( "\"e%5E%280.05t%29=9%2F4\"....take natural log of both sides\r
\n" ); document.write( "\n" ); document.write( "\"ln%28e%5E%280.05t%29%29=ln%289%2F4%29\"\r
\n" ); document.write( "\n" ); document.write( "\"%280.05t%29ln%28e%29=ln%289%29-ln%284%29\"...\"ln%28e%29=1\"\r
\n" ); document.write( "\n" ); document.write( "\"0.05t=2.19722-1.386294361\"\r
\n" ); document.write( "\n" ); document.write( "\"0.05t=0.810925639\"\r
\n" ); document.write( "\n" ); document.write( "\"t=0.810925639%2F0.05\"\r
\n" ); document.write( "\n" ); document.write( "\"t=16.2\"\r
\n" ); document.write( "\n" ); document.write( "it will take her \"16.2\" years for money to grow to the $\"4500+\"\r
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